Emerging Markets FinTech Reaches £100m in Revenue

by James · April 10, 2023

FinTech

DKK Partners, a leading FinTech company specializing in emerging market (EM) and foreign exchange (FX) liquidity, exceeded £100m in revenue in 2022, up from £63m the previous year.

DKK was founded in 2020 by capital markets specialist Khalid Talukder, formally from UBS, Citi and Deutsche Bank, and Dominic Duru from RBS and Citi, enabling businesses to manage currency risk in frontier markets.

Driven by its global expansion, opening new offices in Ghana, Dubai, Cameroon and Ivory Coast, DKK has grown its customer base by 250 percent in the past 12 months, providing currency liquidity in emerging and frontier markets to enable fast and easy transactions for customers.

The company has seen its number of employees grow by 20 percent in the past year and has ambitious plans to further increase staffing by a further 50 percent in 2023.

DKK has become a significant market maker in the XOF and XAF markets with GHS following suit, focusing on automation technology to deliver a “mobile first” strategy for the market through an app launch in late Q4 2023.

To continue its rapid scale, the firm is embarking on a Series A investment round to strengthen compliance processes and systems by implementing innovative RegTech solutions.

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Following its growth, DKK has further plans to open its doors in Spain, Cameroon, Senegal and India this year, to provide local businesses with access to first-class foreign exchange services.

Khalid Talukder, co-founder of DKK Partners, said: “2023 is the year of scale for DKK Partners after a brilliant 2022, which saw us expand our reach in key frontier markets and deliver world-class consultancy and services to our rapidly growing client base.

“We are at an exciting stage of our journey with plans to open additional offices in Europe, Africa and Asia to expand our global footprint, supported by strategic hires of industry experts and an increase in automation technology to continue to deliver our world-class offering .”

Dominic Duru, his co-founder of DKK Partners, added: “Growing markets are at the heart of DKK’s values and our heritage in these regions makes us proud to empower local businesses and local economies to thrive.

“We will continue to invest in our services and products, as well as working with key partners in the banking industry to support both our own growth journey and the journeys of our customers to tailor our platform to their business needs.”

During 2022, DKK also joined the London Chamber of Commerce, working with its members to offer its study abroad services on behalf of London’s business community.